Title

Production, Taxation and Sale of Legalized Marijuana

Presenter Information

Curtis Reid

Document Type

Oral Presentation

Location

SURC Ballroom B/C/D

Start Date

21-5-2015

End Date

21-5-2015

Keywords

Marijuana, Economics, Tax

Abstract

In this modern era, we are faced with a dilemma. Due to outdated and archaic legislation and policy, money that is being generated by legal marijuana producers in Oregon, Colorado, and Washington cannot legally enter the fiscal stream. This is due to states legalizing the production and sale of marijuana, but federal legislation prohibits banking institutions from accepting this legalized cash flow. In addition to this, the criminal status of marijuana and the ensuing tax code law creates several massive negative externalities at the local, state, and federal level. There is a massive disconnect between what the federal government is saying, what the state governments are doing, and a power struggle happening between the federal and state government agencies. This needs to be resolved in a timely and efficient manner to resolve the externalities and begin proper taxation and efficient revenue collection at all levels.

Poster Number

67

Faculty Mentor(s)

Rex Wirth

Department/Program

Environmental Studies

Additional Mentoring Department

Political Science

This document is currently not available here.

Share

COinS
 
May 21st, 11:30 AM May 21st, 2:00 PM

Production, Taxation and Sale of Legalized Marijuana

SURC Ballroom B/C/D

In this modern era, we are faced with a dilemma. Due to outdated and archaic legislation and policy, money that is being generated by legal marijuana producers in Oregon, Colorado, and Washington cannot legally enter the fiscal stream. This is due to states legalizing the production and sale of marijuana, but federal legislation prohibits banking institutions from accepting this legalized cash flow. In addition to this, the criminal status of marijuana and the ensuing tax code law creates several massive negative externalities at the local, state, and federal level. There is a massive disconnect between what the federal government is saying, what the state governments are doing, and a power struggle happening between the federal and state government agencies. This needs to be resolved in a timely and efficient manner to resolve the externalities and begin proper taxation and efficient revenue collection at all levels.